London based DLT firm SETL and New York based Digital Assets are providing the technology for a 12-week proof of concept project (PoC) by members of the U.S. banking community that will explore the feasibility of an interoperable digital money platform known as the regulated liability network (RLN).

SETL announced that it has successfully delivered an innovation pilot project for SWIFT which implemented a common framework linking tokenisation systems between CSD’s and global custodians.

Digital Asset and SETL reaffirm their commitment to jointly build their version of the Regulated Liability Network (RLN), as part of the Joint Venture announced earlier this year.

SETL/Colendi partnership aims to create a new public blockchain infrastructure that will be used to host native tokens and smart contracts for Colendi’s current 10+ million users.

New network will provide scalability, with the highest levels of privacy and smart contracting capabilities for Central Bank Digital Currency